Govt and regulation

Alison Watkins, managing director and chief executive of GrainCorp has announced her resignation just days after the company takeover by US agricultural giant, Archer Daniels Midland was rejected by Treasurer Joe Hockey.

Inserted within the ADM-GrainCorp decision was a never-before-seen rationale for rejecting a foreign investment: the tenor of community attitudes and level of popular support. This seemingly minor caveat may radically change the way in which foreign investment reviews are conducted by the Coalition government in coming years.

Treasurer Joe Hockey has ruled against the sale of GrainCorp, Australia’s largest publicly-listed agribusiness, to US giant Archer Daniels Midland.

A selection of King Island producers – King Island Multi-Species Abattoir Group, is expected to finalise the purchase of land this week with plans to have the abattoir up and running within three months time.

The new draft voluntary code of conduct between supermarket giants Coles and Woolworths and their suppliers has so far elicited responses ranging from cynicism to cautious optimism.

Food magazine wants to know your thoughts on the pending sale of GrainCorp, Australia’s largest publicly listed agricultural company.

The boss of Elders is hoping the Indonesian phone tapping scandal will be resolved before the live export trade is affected.

Victorian dairy farmers are heading to Canberra today to argue that Australian processors need a level playing field as they compete with Canada’s Saputo in the bid for Warrnambool Cheese and Butter (WCB).

The National Food Plan, a comprehensive policy covering all elements of food production, supply, education and marketing may have had its initiatives placed on hold while the Federal Government drafts its own agricultural white paper.

David Hodgett, Victoria’s minister for manufacturing, and Elizabeth Miller, state member for Bentleigh, have visited Charlie’s Cookies in Bentleigh East as part of the state government’s commitment to engage with business.

The sale of GrainCorp is drawing attention to the fact that the Liberal-National Party coalition is not a single entity united in its approach to policy.

Coles and Woolworths, together with the Australian Food and Grocery Council, have agreed to a voluntary code regulating their dealings with suppliers.

The Anti-Dumping Commissioner has decided to enforce a nine percent tariff on imported tinned tomatoes, despite the Productivity Commission rejected an application for safeguards just weeks ago.

The third Cirrus Media Industrials poll reveals that industry is concerned about the impact of Free Trade Agreements (FTAs) which the Government is attempting to forge with China, South Korea and Japan.

Australia’s reputation as a clean, green food producer is under threat with the Federal Department of Agriculture announcing it’s to cut 220 jobs, with biosecurity staff the first in line.

Following an announcement from the US FDA last week, Australian experts say that Australia should also consider a ban on artificial trans fats.

The United States Food and Drug Administration (FDA) is proposing a ban on artificial trans fats in an attempt to combat rising rates of obesity and heart disease.

South Australia is the only mainland state maintaining a ban on genetically modified crop production and trials, extending a moratorium until at least 2019.

In light of Mexico’s recent commitment to a tax on sugary drinks and junk food, new public opinion data from the Obesity Policy Coalition has revealed that Australians are also in favour of pricing interventions to curb bad eating habits.

Victorian farmers should be able to veto gas exploration on their land, says the Victorian Farmers Federation, arguing the importance of a “level playing field” between the farming and mining industries.